Net asset value is most commonly used in the context of open-end funds.
The most common type, the open-end fund, must be willing to buy back shares from investors every business day.
By 1929, open-end funds accounted for only 5% of the industry's $27 billion in total assets.
However, as with open-end funds, investors normally receive a price that is close to net asset value.
That is not too different from how an open-end mutual fund works.
For those who prefer an open-end mutual fund, there are a multitude of options.
The easiest would be to convert to an open-end mutual fund.
The move came after three shareholder attempts to turn it into an open-end fund.
By contrast, open-end mutual funds are priced at net asset value.
Their attraction over open-end funds is higher yields, but not necessarily more risk.
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